Yacht Market: Global Industry Analysis and Forecast (2024-2030)

Yacht Market size was valued at US$ 11.92 Bn in 2023 and is expected to reach US$ 18.63 Bn by 2030. Yacht Market is expected to grow at a CAGR of 6.58% through the forecast period.
Yacht Market Overview
A yacht is a sailing or power vessel used for pleasure, cruising, or racing. Yachts are categorized into several types, including superyachts, motor yachts, sailing yachts and catamarans. The market for yachts is an intriguing and multifaceted sector that has witnessed multiple trends and shifts in the past few years. The yacht industry is a symbol of opulence and leisure, from luxury superyachts to more accessible recreational vessels. The market provides a diverse range of offerings that cater to different consumer segments. As per the research, the market has seen rapid growth over the years, which is majorly driven by the rising interest in yachting as a leisure activity. The future of the yacht market is expected to be dynamic, with a key focus on sustainability and technological innovation. Electric and hybrid yachts, improved energy efficiency, and continued growth in the yacht charter market are defining features of the evolution of the industry.To know about the Research Methodology :- Request Free Sample Report

Yacht Market Report Scope and Research Methodology

The report explores the Global Yacht Market segments (Type, Yacht Sources, Contract Type, Length and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Global Yacht Market drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Global Yacht Market contemporary competitive scenario. The reports also help in understanding the Yacht Market dynamic, market structure by analyzing the market segments and projecting the Market size.

The objective of the report is to present a comprehensive Yacht market analysis with the yacht charter industry statistics to the stakeholders in the industry. The past and current status of the Yacht industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of Yacht key competitors including market leaders, followers, and new entrants.

PORTER, PESTLE analysis with the potential impact of micro-economic factors of the Yacht market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which gives a clear futuristic view of the industry to the decision-makers.
Yacht Market Dynamics
Increasing demand for sustainable yachts driving the Yacht Market growth

Yacht builders are highly investing in new technologies and materials that reduce the environmental impact of their yachts. The rising consumer awareness, government regulations and economic benefits are the factors driving the demand for sustainable yachts. Consumers are increasingly becoming aware of the environmental impact of their purchases, which is leading to an increasing demand for sustainable products and services. The demand for sustainable catamarans is increasing rapidly, which is highly contributing to the catamarans market growth. There are a number of advantages associated with the use of sailboats such as they are more sustainable than powerboats because they do not require fuel to operate. As the prices of fuel are increasing, consumers are increasingly demanding sailboats. This is majorly contributing to the growth of the sailboat market.

Booming Tourism and Chartering Hubs driving the Yacht Market growth

Mediterranean, the Caribbean, and South Florida, serve as prominent yachting hubs because of their favorable climates and thriving tourism sectors. These areas offer ideal conditions for yachting, drawing both yacht owners and charter enthusiasts, which is contributing to the growth of the market. The tourism and chartering hubs have well-established tourism infrastructure, including marinas, yacht clubs, and luxury resorts. These facilities provide essential support and amenities for yacht owners and charter clients, including mooring, maintenance, and provisioning services, with fine dining, entertainment, and shopping options. These hubs stimulate the local economy by creating jobs and supporting businesses related to yachting. This includes boat builders, marina operators, and maintenance services. The presence of a thriving yachting industry is contributing to the economic well-being across the world.

Technological Advancements creating growth opportunities for the Yacht Market 

The integration of advanced technologies in yacht design and operation is majorly driving the global market. The demand for smart yachts is increasing as they are equipped with navigation systems, entertainment options, and security features that are appealing to tech-savvy consumers. These innovations are highly attracting buyers seeking modern amenities. For example - launched at the 2022 Monaco Yacht Show, Dutch company Van Berge Henegouwen’s all-new Invisible Technology for superyachts was developed alongside shipyards and interior yacht designers. The new product is able to be installed on any yacht and it includes a Magic–UI control panel and blended screen that – when not in use – are invisible and seamlessly integrated into the walls / surfaces of a yacht.

Fuel Price Volatility hampering the yacht market growth

Fuel price volatility has highly impacted both buyers and yacht owners. The fluctuations in fuel prices hamper the market growth in several ways. Yachts larger and more powerful vessels, consume large amounts of fuel. Fuel costs account for a substantial portion of the overall operating expenses for yacht owners. When fuel prices are high or subject to frequent and significant fluctuations, yacht owners face an increase in uncertainty and financial burden. Charter companies are directly affected by fuel price volatility, which impacts their profit margins. When fuel prices are high, charter companies face an increase in expenses and a reduction in profit. This makes the chartering business less attractive. The potential buyers are also deterred from investing in a yacht due to their rising concerns about fuel price volatility.
Yacht Market Regional Insights 
The European yacht market is expected to grow at a high CAGR through the forecast period. The large proportion is attributed to the region's rising boat sales. Factors such as an increasing number of HNWI and the growing popularity of water sports and fishing activities are driving demand in European nations. Due to the region's appeal and recent supporting legislation, passenger traffic in coastal and marine tourism is expected to grow during the forecast period. Passenger traffic in coastal and marine tourism is expected to increase in the next years as a consequence of the region's attractiveness and recent favorable regulations. The growing popularity of water adventures and fishing activities and the increasing number of high-net-worth individuals are the factors that drive the regional yacht market growth.

The Asia Pacific Yacht Market is expected to grow rapidly during the forecast period. The growth in disposable income and higher standard of life are two major reasons driving the shift in the region's population's preference for yacht travel. Additionally, government programs promoting tourist development, such as the Swadesh Darshan Scheme and Incredible India, are expected to boost regional market growth throughout the forecast period. Thailand, Malaysia, Australia and New Zealand are the popular yacht tourism destinations in the region. Countries with economic crises, political instability, and strict FDI regulations, on the other hand, are expected to have a negative impact on growth. The improved standard of living owing to a rise in disposable income is a critical factor responsible for the changing consumer preference in the regional market.
Yacht Market Segment Analysis 
Based on Type: The super yacht segment is expected to grow with the highest CAGR during the forecast period owing to the strong popularity of the segment among end-users. The increasing popularity of super yachts among the wide consumer base, along with the surging affinity for outdoor leisure activities lead to the growth of the superyacht segment in the global yacht market.

The sport yacht is expected to become the market's fastest-growing segment. The segment's growth is attributed to rising demand for sporting yachts in countries like China and France. Adults have actively participated in recreational boating activities and athletic events in these countries. Marine tourism, sports tournaments, and other leisure activities such as cruising, fishing, and other water sports activities are all done on sports boats.

Based on Length: the 20-50 ft segment dominated the market with the largest yacht market share in 2023. This is attributed to factors such as the availability of variants, which also include a vessel having wind sailing capabilities that help save fuel and ensure traveling in favorable wind direction. Additionally, low maintenance, shallow draft for water anchorages capability, and lower moorage cost make it a preferred choice for the end-users.

Yachts lengths below 20ft and 20ft to 50ft segments is used for both recreational as well as personal purposes. The segment below 20ft is expected to hold the second position after 20ft to 50ft segment in terms of both year-on-year growth as well as market share in the forthcoming years. The growth of less than 20 ft segment is owing to easy availability at affordable charges and low maintenance requirements. Also, the emerging trend in developed economies of Europe and North America region for using renewable energy sources such as wind energy and solar energy in marine vessels is most likely to play an important role in propelling the demand for less than 20 ft since less than 20 ft yacht require less energy for propulsion.

Based on Contract Type: The Crewed Charter segment dominated the market and is expected to grow at a high CAGR during the forecast period. As the yacht crew is a crucial element in making a good holiday a vacation, which customers talk about forever leads to yacht market growth. The rising popularity of yacht booking for corporate and anniversary parties is expected to boost the demand in the forecast period. Shifting preference towards marine tourism and voyages has also fuelled the demand for the crew. Additionally, the crew is also required on yacht for technical maintenance such as engine oiling and other system inspections for the smooth functioning of the vessel systems. Furthermore, high-net-worth individuals are squeezing in more travel itineraries into shorter time frames. High preference for spending quality time during a short vacation in exceptional and remarkable accommodations has increased the adoption of crew-yacht over the years.

Based on Yacht Sources: The motor segment is expected to hold the largest yacht market share during the forecast period due to power and speed, and the ability to cover greater distances in less time. In addition, motor-yachts also sail in shallow-draft, offering its guests a chance to navigate almost any archipelago or coastline, regardless of whether the passage is narrow, or the water is shallow. Also, substantial growth in luxury marine tourism in the recent past is expected to boost the segment over the forecast period. The high demand for motor yachts for personal as well as recreational activities in countries across the world, especially in the Mediterranean region resulted in the global yacht market growth. Factors such as increasing demand for recreational activities, tournaments, and product sales on account of rising affinity for outdoor recreational activities boosted the global yacht market during the forecast period.
Yacht Market Competitive Landscape
This section of the Yacht Market report provides a detailed analysis of the competitors and information provided by the competitors. A secondary research method was used to provide detailed information on yacht key competitors while the primary research method included interviews of the market players. The investments by key players in research and development, revenue, sales, production capacities and company overview are all included in the report. SWOT analysis was used to provide the strengths and weaknesses of the yacht industry.In June 2023, Heesen launched its largest steel motor yacht, SPARTA. Heesen and Winch Design collaborated on this impressive motor yacht which grew out of the Project Avanti concept presented at the Monaco Yacht Show in 2018. In June 2023, Baglietto also launched its fourth product in the year i.e 40m DOM133 designed by Stefano Vafiadis in cooperation with the Owner's designer Tehila Bracha Magyar Shelef.
Yacht Market Scope: Inquire before buying



Yacht Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US$ 11.92 Bn.


Forecast Period 2024 to 2030 CAGR:
6.58%
Market Size in 2030:
US$ 18.63 Bn.


 Segments Covered:
by Type
Super Yacht
Flybridge Yacht
Sport Yacht
Long Range Yacht


by Propulsion
Sailing Yacht
Motor Yacht


by Yacht Length
Up to 20 Meters
20-50 Meters
Above 50 Meters



Yacht Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Yacht Key Players are:
1. Azimut Benetti S.p.A.
2. Damen Shipyards Group
3. Heesen Group
4. The San Lorenzo S.p.a
5. Sunseeker International
6. Ferretti S.p.A.
7. Princess Yachts Limited
8. Viking Yacht Company
9. Alexander Marine International
10. Christensen Shipyards LLC
11. Lagoon
12. Feadship Holland B.V
13. Baglietto s.p.a
14. Bavaria Yachtbau GmbH
15. Fountaine Pajot
16. Monte Carlo Yachts
17. Greenline yachts

Frequently Asked Questions
1] What was the Yacht Market size in 2023?
Ans. USD 11.92 Bn was the Yacht Market size in 2023.

2] What is the expected Yacht Market size by 2030?
Ans. USD 18.63 Bn is the expected Yacht Market size by 2030.

3] What is the expected CAGR of the Global Yacht Market during the forecast period?
Ans. During the forecast period, the Global Yacht Market is expected to grow at a CAGR of 6.58 %.

4] What are the major Yacht Market segments?
Ans. The market is divided by Type, Yacht Sources, Length, Contract Type and Distribution Channel.

5] Which region is expected to hold the largest Yacht Market share during the forecast period?
Ans. The Asia Pacific Yacht Market is expected to hold the largest share during the forecast period.

6] Who are the key players in the Yacht Market?
Ans. Azimut Benetti S.p.A., Damen Shipyards Group, Heesen Group, The San Lorenzo S.p.a, Sunseeker International, Ferretti S.p.A., Sea Ray 8. Princess Yachts Limited, Viking Yacht Company, Alexander Marine International, Brunswick Corporation, Christensen Shipyards LLC, Lagoon, Sanlorenzo S.p.A 15. Feadship Holland B.V, Damen Shipyards Group N.V., Baglietto s.p.a, Bavaria Yachtbau GmbH, Sunreef, Pershing, Jeanneau, Benetau, Riva, Damen Shipyards Group N.V., Fountaine Pajot, Cranchi, Bayliner, Monte Carlo Yachts, Greenline yachts, Oyster